Wealthstar Advisors LLC Buys 4,037 Shares of Plains All American Pipeline, L.P. $PAA

Wealthstar Advisors LLC raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 10.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,383 shares of the pipeline company’s stock after acquiring an additional 4,037 shares during the quarter. Wealthstar Advisors LLC’s holdings in Plains All American Pipeline were worth $758,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PAA. Farther Finance Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 107.0% in the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 657 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Plains All American Pipeline in the second quarter worth about $40,000. Atwood & Palmer Inc. bought a new position in shares of Plains All American Pipeline in the second quarter worth about $42,000. Ameritas Advisory Services LLC bought a new position in shares of Plains All American Pipeline in the second quarter worth about $58,000. Finally, Hilltop National Bank bought a new position in shares of Plains All American Pipeline in the second quarter worth about $60,000. Institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PAA shares. Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a report on Monday, September 8th. Mizuho set a $22.00 price objective on shares of Plains All American Pipeline and gave the company an “outperform” rating in a report on Wednesday, June 18th. Citigroup set a $18.00 price objective on shares of Plains All American Pipeline and gave the company a “neutral” rating in a report on Friday, August 8th. Morgan Stanley dropped their price objective on shares of Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Finally, Barclays dropped their price objective on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.50.

Plains All American Pipeline Stock Down 1.6%

Plains All American Pipeline stock opened at $16.17 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a 52-week low of $15.57 and a 52-week high of $21.00. The firm has a 50 day moving average price of $17.42 and a two-hundred day moving average price of $17.71. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 22.15 and a beta of 0.72.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The company’s revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share. Equities analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 9.4%. Plains All American Pipeline’s dividend payout ratio (DPR) is 172.73%.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.